Prepayment wristband and computer debit system

ABSTRACT

A financial transaction system that does not require the need for cash, checks or credit cards to carry out financial transactions. In return for prepayment of specified sum, a bar coded wristband is issued to a customer. On issuance of the wristband, a data base record is created that is cross-referenced with the bar code number, as well as an account number, an issue date and a present balance of the account. When the user wishes to purchase goods or services, the bar code of the wristband is scanned, and the amount of the transaction is then placed into the system. The corresponding account is debited. The wristband is constructed so as to be waterproof, and includes an adhesive strip with small tear strips for fastening around the user&#39;s wrist. An attempted removal of the wristband is effective to substantially destroy it and render it unusable to other persons.

REFERENT TO RELATED APPLICATION

This application is a continuation of Ser. No. 08/206,127 filed Mar. 3,1994 now U.S. Pat. No. 6,142,368.

TECHNICAL FIELD OF THE INVENTION

The present invention relates in general to computerized accountingsystems, and more particularly to a pseudo monetary system in which aprepayment or authorization is initially exchanged for a bar-codedwristband, and subsequent financial transactions are carried out inassociation with the use of the wristband and debiting the correspondingaccount by the value of the financial transaction.

BACKGROUND OF THE INVENTION

The time honored system of exchanging cash or legal tender for goods andservices is an established custom, and is widely accepted for finalpayment. Over time, personal business checks have become a customarymanner for payment of goods and services without the use of cash. Evenmore recently, credit cards have become the recognized technique forpurchasing goods and services on credit, and for later payment thereofto the credit card issuing company.

While the foregoing methods of payment represent an established andaccepted method for purchasing goods or services, certain shortcomingsexist. For example, there exists certain abuses in the use of checks orcredit cards which operate to the detriment of businesses. For example,checks and credit cards may be stolen or be worthless and thusuncollectible. Checks can be written with insufficient account funds,thereby providing a business risk to entities accepting the same. Amongother disadvantages, certain situations exist in which cash, creditcards or checks cannot be easily carried or used due to the nature ofthe environment. For instance, in water parks, beaches, bars and insimilar environments, it is difficult to conveniently carry cash, checksor credit cards on the person. Nevertheless, in such environments, thereis often the opportunity to purchase goods and services which requirethe exchange of money, a promise to pay, or an authorization to use acredit card for subsequent payment to the vendor. Not only does the useof cash or checks present the opportunity for destruction due to water,there is always the risk of loss due to the inability to safely carrythe same in bathing suits and the like. The problem is exacerbated withthe use of money by children where currency and change can often belost, and at the very least, the accountability of financialtransactions to assure that the proper change has been received.

Certain of the foregoing problems have been addressed by employingcredit cards that are specially issued for particular limited uses, andare limited for a specific period of time. For example, ocean cruiseships utilize a special issue credit card to passengers for purchasinggoods and services provided on the ship and only for the duration of thecruise. The special issue credit card is issued after taking an imprintof the passenger's major credit card, to provide authorization forsecuring final payment through the issuing major credit card company.Thereafter, the passenger can use the special issue credit card withouthaving to carry cash, personal checks or traveler's checks. Thedisadvantage to such system is that the special issue credit card canyet be misplaced or stolen, and thus used by an unauthorized person. Acomputer system is believed to be used with the special issue creditcard to totalize the sales transactions so that final payment can beobtained from the major credit card issuer.

In view of the foregoing, it can be seen that a need exists for a pseudomonetary system where cash, checks or credit cards are not required tobe carried at all times, but yet where financial transactions can bereadily carried out. A further need exists for a pseudo monetary systemwhere an initial payment or authorization is exchanged in return for adevice which, itself has no monetary value, but which is only a mediumof associating an account in a data base with transactions where theprepayment or authorized amount is reduced or debited. A further needexists for a pseudo monetary system in which it is difficult to lose orsubject to destruction the device, but when lost or destroyed, thedevice cannot be used by others to debit the prepaid or authorizedamount.

SUMMARY OF THE INVENTION

According to the invention, a pseudo monetary system is described,wherein a wristband or similar device is initially exchanged for aprepayment or an authorization or promise to pay, and subsequenttransactions by the person wearing the wristband are debited against theinitial prepayment. If a transaction involves an amount that exceeds acurrent balance associated with the prepayment, such transaction caneither be prevented from occurring, or can be carried out based on anauthorized override by operators of the system.

According to a preferred embodiment of the invention, a waterproofwristband is exchanged for a specified prepayment of money made by cash,or by authorization to pay made by credit card or other acceptablemeans. The wristband includes at least one bar code that represents aunique number. Further, the wristband has an adhesive section forsecuring around the wrist of a person. Security slits in the adhesivearea prevent the removal of the wristband without destruction thereof.In the preferred form of the invention, the wristband also includes ahuman-readable number that is identical to the number encoded in the barcode. The identification of the wristband can be quickly acquired eitherby scanning the bar code of the wristband, or visually by reading thehuman readable number.

Associated with the wristband of the invention is a computerizedaccounting system having a central data base connected by a local areanetwork to plural stations having purchase transaction equipment. Thecomputerized accounting system is programmed to initially read thewristband bar code on the issuance thereof, and associate the numberwith a calendar date of issuance, an account number, the amount ofprepayment, and other information. On each subsequent financialtransaction involving the wristband, the wristband is again scanned,whereupon the bar code identification number is cross-referenced to theaccount number and the calendar date. If the issue date of the wristbanddiffers from the date of the present transaction, the transaction cannotbe carried out. Further, if the amount of purchase of the goods andservices exceeds the current balance of the account, the transactioncannot be completed, except for certain circumstances. If, on the otherhand, the date of wristband issuance matches the date of thetransaction, and if the purchase amount does not exceed the currentbalance of the account, the transaction is allowed to continue,whereupon the current balance is debited by the purchase amount. Thetransactions can routinely continue throughout the day without the useof cash, credit cards or checks, until the purchase amount exceeds thecurrent balance.

Wristbands that have been lost or indicate destruction by removalthereof are voided by the operator of the transaction station, thusproviding a degree of additional security to persons who may haveinadvertently lost the wristband.

The computerized accounting system is further programmed to providereconciliation of accounts at the end of the day by refunding unusedamounts of cash prepayments, and reconciling credit card accounts to theactual amount spent and thereby bill the credit card companiesappropriately. Credit card accounts are automatically reconciled at theend of the day, while cash accounts can be reconciled only on request bythe participant and the surrender of the wristband.

BRIEF DESCRIPTION OF THE DRAWINGS

Further features and advantages-will become apparent from the followingand more particular description of the preferred embodiment of theinvention, as illustrated in the accompanying drawings, in which likereference characters generally refer to the same parts or elementsthroughout the view, and in which:

FIG. 1 depicts in simplified form the wristband of the inventionutilized in conjunction with a computerized accounting system;

FIG. 2 is an isometric view of the wristband, illustrating the use of apeel strip to expose an adhesive section for fastening the wristband toa user;

FIG. 3 illustrates the manner in which the wristband is attached to auser;

FIG. 4 is a plan view of the wristband of the preferred embodiment ofthe invention, showing the duplicated bar codes and the human readableidentification;

FIG. 5 is a block diagram of the computerized accounting system,illustrating the connection of a file server data base via a LAN systemto plural transaction stations;

FIGS. 6a and 6 b are flow charts illustrating the programmed operationsof a computerized accounting system in processing an exemplarytransaction; and

FIG. 7 illustrates the correlation of a wristband bar code withassociated data base information.

DETAILED DESCRIPTION OF THE INVENTION

With reference now to FIG. 1, there is illustrated the wristband 10 andthe computerized accounting system 12 according to the preferredembodiment of the invention. The wristband 10 is fabricated so as to besecured around the wrist of a user, and includes a bar code 14 or otheridentification, which can be input into the computerized accountingsystem 12 and associated with a specified prepayment. The computerizedaccounting system 12 includes a bar code reader 20 and a laser wand 16and associated electronic transaction equipment 18 for decoding thescanned signals and transforming the same into digital signals. Thefinancial transaction equipment 18 can be associated with othercomputerized equipment for operation with a local area network 22, inthe event a number of transaction stations 18 are employed. The localarea network 22 connects each of the transaction stations 18 with acentral data base, comprising a file server 24.

In brief summary of the operation of the system, a user initiallyexchanges a specified amount of money by way of cash or provideauthorization to pay via a credit card, in return for a wristband 10.The laser wand 16 is utilized to initially scan the bar code 14 of thewristband 10, and input other data via the transaction station 18 fortransferring the information to the file server data base 24. Thecomputer of the file server data base 24 associates the bar code number14 with a issue date, an account number, the amount of prepayment orauthorization, as well as other useful information. During subsequentfinancial transactions in which the user desires to purchase goods orservices, the bar code 14 of the wristband 10 is again scanned, and thepurchase amount data is input into the transaction station 18 andtransferred to the file server 24. If the transaction amount does notexceed the current balance for that account number, the transaction isallowed to be carried out, and the account is debited by the transactionamount. On the other hand, if the transaction amount exceeds the currentbalance of that account, the computerized accounting system 12 canprevent the transaction from being completed. As will be described inmore detail below, the computerized accounting system 12 can beprogrammed to accept authorization to complete the transaction when thetransaction amount exceeds the current account balance. The foregoingsystem is highly advantageous as cash, checks or credit cards do notneed to be carried by the user throughout the day, rather only thewristband 10 is required for each financial transaction.

With reference now to FIGS. 2-4, there is illustrated the wrist bandpreferred embodiment of the invention. The wristband 10 is about nineand one-half inches in length and three-fourths inch in width, therebyaffording a size that can be used in a wide variety of wrist sizes. Thewristband 10 is constructed of a base material comprising a white paper.

As shown in FIG. 2 the wristband 10 has on the back side thereof an areahaving an adhesive backing 26 protected by a peel strip 28. Hence, whenit is desired to secure the wristband 10 around the user's wrist, thepeel strip 28 is removed, thereby exposing the adhesive area 26. Thewristband can then be wrapped around the wrist in the form shown in FIG.3 to thereby adhere the wristband onto itself in a semi-permanentmanner.

In FIG. 4, there are shown the various printed indicia formed on thewristband and protected by the waterproof coating, comprising a smudgeproof Kimdura protective cover. The wristband is then covered with awaterproof varnish comprising a clear matte polyester laminate. Withsuch construction, the wristband 10 is flexible but yet is durable andresistant to easy tearing, destruction, smearing or obliteration of thebar code.

In accordance with an important feature of the invention, security slits30 are formed through the wristband in the adhesive section 26. Thesecurity slits 30 can be formed either vertically or diagonally todefine areas of weakness so that the wristband tears in such area shouldattempts be made to forcefully separate the wristband when adhered toitself, such as when secured to a wrist. The purposeful removal of thewristband 10 is accomplished by forcefully pulling on the wristbanduntil it tears along the security slits 30. Thus, a wristband 10 thateither has the peel strip 28 removed, or is torn along the securityslits 30 is automatically invalidated and cannot thereafter be used.Attempted reuse of a wristband 10 torn along the security slits 30 isvisually perceptible and easily detected. This prevents persons fromforcefully removing wristbands from other persons and using the same inan unauthorized manner. Should a wristband 10 become inadvertently tornalong the security slits 30, it can be replaced on the showing of properidentification of the person. Other areas of weakness in the wristband10 can be notches 31 formed in the edges of the wristband material. Thenotches 31 allow tearing of the wristband material, preferably throughthe bar code area, thereby preventing reading of the bar code.Otherwise, the notches 31 serve the same purpose as the security slits30 described above.

It should be realized that the wristband is not constructed of a highlydurable or tear resistant material, thereby enabling the wristband 10 tobe forcefully removed should it catch or snag on stationary protrudingobjects when the person is moving. For example, the wristband isseparable from the user if snagged when the person slides down awaterslide. Injury to the person in such situations is thus avoided.

According to the preferred form of the invention, the wristband 10includes a first bar code 14 a and a second, identical bar code 14 b, toprovide versatility for convenient reading of the code. Further, a humanreadable number 32 is provided in the area of the security slits 30. Twoidentical bar codes 14 a and 14 b are utilized so that access to atleast one bar code is readily available when scanning the same whileattached to a user's wrist. It may be found that only a single bar codeis acceptable.

Those skilled in the art may find that identifications other than barcodes can be utilized to associate the user with an account number inthe data base. For example, the user's name itself may be sufficientlyunique, and can be made or printed on the wristband at the time ofissuance. Also, the human readable number need not be the same as thebar code number, but can be a related number or designation.

Graphic areas 36 and 38 may be employed for promotional purposes.Further, various instructional messages or text, such as shown in areas40 and 42 may provide the user with appropriate instructions concerningthe use of the wristband, disclaimers, etc.

While the bar codes 14 a and 14 b can be of any conventional typecompatible with scanning equipment, the preferred form of the inventionutilizes bar coding in the base 36, and a code 39 type of bar code. Thebar codes 14 are imprinted on the wristband with a density of 7characters per inch. Also, the bar code 14 is of the Midax image. Itshould be understood that many other types of bar codes or encodingschemes can be utilized to uniquely identify each wristband 10, andassociate it with data in the file server data base 24. The wristbandsinvention can be made substantially identical, except for the bar codes14. However, different styles of wristbands can be made with differentoverall colors in association with different prepayment amounts. Forexample, red colors in the graphic areas 36 and 38 may indicate that thewristband 10 can be utilized in exchange for $10.00. Further, a magentacolor of the graphic areas 36 and 38 may indicate that the wristband canbe exchanged for $25.00. Many other types of predefined exchange valuescan be realized. Further, yet another color of the graphic areas 36 and38 can indicate a variable exchange amount that is agreed upon by theuser and the operator of the transaction stations 18. With a variableexchange amount, a child or other person can obtain a wristband 10 withthe pocket change that the person has, such as $2.38.

With reference to FIG. 5, there is illustrated the computerizedaccounting system 12 invention. Although the invention may find a widevariety of applications in a number of different fields, the accountingsystem 12 of FIG. 5 is particularly adapted for use in an entertainmentpark of the type where many water activities are available, thusavoiding the use of cash, checks or credit cards, which would beburdensome or easily lost. The computerized accounting system 12includes a file server 50 connected by a high speed local area network52 having plural hubs 54 connected to other equipment. The high speednetwork hubs 54 are connected in the preferred embodiment to bar codereaders 56 and registers 58 located at a front gate of the water park.The front gate bar code readers 56 and registers 58 are utilized forexchanging credit or cash in return for wristbands 10 described above.Numerous front gate transaction stations can be employed to accommodatecustomers, and are connected to the file server 50 by way of the highspeed hubs 54. Also connected to the file server 50 is equipment locatedat a service window, such as shown by reference character 60. Theservice window 60, or service counter, includes a bar code reader 62, aregister 64 and a personal computer 66, connected to the high speednetwork 52. Lost and broken wristbands 10 and other associated problemscan be addressed by the users at the service windows 60. Further, thedepleted individual accounts can be reestablished at the servicewindow.60 for the payment of additional cash or extended credit by wayof credit cards. One high speed network hub 54 is shown connected to anadditional administrative finance server for providing administrativereports and other data or statistics with respect to the system 12.

A personal computer scanner-controller 70 is effective to connect alower speed network 72 to the file server 50, via one of the high speedhubs 54. The scanner controller 70 is connected by an RS232, or othersimilar communication link, to a multi-port controller 74. Each port ofthe controller 74 is connected to a hub, such as shown by referencenumeral 76. Each port of a hub 76 is connected to the equipment ofvarious transaction stations 18, each having a bar code reader 78, akeypad 80 and a register 82. One or more of the transaction stations 18can be located at activity centers of the water park, such as beaches,lockers, restaurants, water slides, etc. As noted in FIG. 5, eachnetwork hub 76 accommodates only a specified number of transactionstations 18, thus necessitating a number of hubs 76 to accommodate asuitable number of transaction stations 18. In the preferred form of theinvention, the low-speed network 72 comprises a Tnet network while thehigh speed network 52 comprises an Arcnet network.

The transaction stations 18 are located where the purchase of goods orservices is desired by the users of the wristbands 10. In order topurchase goods or services, the user requests the same at a transactionstation 18. The operator or attendant of the transaction station 18 thenrings the sale and tax on the register 82, and keys the transactionamount on the keypad 80. Further, the operator keys a dailyidentification number (DIN) into the keypad 80. Lastly, the attendantscans the user's wristband 10 with the bar code reader 78. The register82 provides the user with a printed receipt of the transaction. Theamount of the transaction is input into the accounting system 12 by wayof the keypad 80, and then a “band charge” key is depressed.

According to the accounting system 12 of the invention, the dailyidentification number (DIN) is assigned to each transaction stationoperator to achieve a high degree of security by maintaining theoperator's and the input of data of each transaction station 18independent of each other. The daily identification number of eachattendant changes from day to day, and is different with respect to eachattendant. This procedure thereby isolates the transactions of eachattendant from the others, and makes the attendant responsible for thedata and transactions input into the accounting system 12.

In carrying out an exemplary transaction, the scanning of the wristbandbar code 14 inputs the unique wristband number into the system. Theaccounting system 12 uses the wristband number as an index for searchingthe data base 50 to find the related account number and the balanceremaining therein. Various transactions involving the purchase of goods,such as souvenirs, etc., and services such as rides, water sports, etc.,can all purchased using the wristband 10.

The operations an exemplary transaction, as carried out by thetransaction stations 18 in conjunction with the computerized accountingsystem 12 are shown in FIGS. 6a and 6 b. With specific reference to FIG.6a, reference numeral 100 illustrates the operation wherein a customerrequests a purchase of either goods or services at a transaction station18. The attendant at the transaction station 18 rings up a sale on thecash register 82 corresponding to the value of the goods and services.Next, and as illustrated in decision block 102, the attendant determineswhether the payment will be by way of the wristband charge. If thepayment is not by use of the wristband 10, then the cash or credit cardexchange takes place as shown in program flow block 104. On the otherhand, if the customer wishes to utilize the wristband 10 as the mediumfor pseudo money, then the attendant keys in the amount on the keypad80. This is shown in program flow block 106. As noted in block 108, theattendant at the transaction station 18 depresses the “band charge” keyon the keypad 80 as well as the daily identification number (DIN) asshown in block 110. Then, the attendant scans the bar code 14 on thewristband 10 as shown in block 112. The foregoing information is alltransferred from the transaction station 18, via the low speed network72 and the high speed network 52 to the data base, or file server 50.

When the data base file server 50 receives such information, adetermination is made as to whether the DIN is valid or invalid, asnoted in decision block 114. If the DIN is invalid, then no furtheraction is carried out by the data base, except by notifying theattendant of an optional input for the correct DIN. On the other hand,if the DIN is correct, the wristband number 14 is utilized as an indexfor searching the data base 50 for the appropriate account number. Thisis shown in program flow block 116.

With brief reference to FIG. 7, there is shown in example form themanner in which the file server data base 50 utilizes the wristbandnumber 14 as an index for searching the data base. As can beappreciated, one or more wristbands can all be associated with a singleaccount number. For instance, a family of five members may each have awristband, each with a different bar code number 14. However, the familymay have a single account with a single prepaid balance. Hence, when anyone of the wristband numbers is compared with the wristband numbers ofthe data base, at least one match will be found. The match directs thedata base file server 50 to the appropriate account number, which hasassociated therewith the issue date of the wristbands 10 and the accountbalance. It should be understood that other types of information canalso be associated with the account number, such as names of the users,credit card issuing company, expiration date, credit card number, etc.While the example shows a number of wristband numbers associated with asingle account number, each wristband 10 may be opened with its ownaccount number and against which subsequent purchases are debited onlyby the user of the wristband 10.

In FIG. 6b, decision block 118 indicates the programmed operations inwhich the wristband issue date is compared with the present transactiondate. As noted above, the preferred embodiment of the inventioncontemplates that a wristband 10 is valid only for a single day, andthus transactions on the date of issue of the wristband are the onlyvalid transactions that can take place. If the issue date of thewristband 10 differs from the transaction date, program flow branches toblock 120 where the transaction is canceled, and in any event, it cannotbe carried out. An affirmative result of decision block 118 transfersprocessing to decision block 122 where it is determined if thetransaction amount is less than the account balance. If an affirmativeresult ensues, the transaction station 18 is caused to print a receipt,as shown in block 124, and a new account balance is calculated as shownin program flow block 126. While not shown in the flow chart, manyrecord and statistical types of data are maintained, but are notnecessary for the practice of the invention.

In the event the transaction amount is greater than the account balance,program flow branches from block 122 to decision block 128. According toan important feature of the invention, certain transactions exceedingthe account balance can be approved and carried out, based on variouslevels of personnel approval. In other words, if the transaction exceedsthe account balance by a small amount less than a threshold amount, thenapproval by the transaction station attendant is sufficient to allow thetransaction to proceed. On the other hand, if the transaction amountexceeds the account balance substantially above a threshold amount, thensupervisor approval may be required. The threshold can be preprogrammedinto the data base file server 50 as a percent of the initial prepaidamount, or the threshold can be programmed as a fixed dollar amount.Further, the threshold can be variable depending on various otherparameters.

The remainder of the flow chart of FIG. 6b can be best understood basedon an example. If there is $15.00 remaining as the account balance, anda customer has offered payment by way of the wristband 10 for a mealthat is $16.00, and assuming a threshold of $17.00, then program flowbranches from decision block 128 to block 130. Here, the data base fileserver 50 provides a display to the transaction station attendant of theexact dollar amount by which the transaction exceeds the presentbalance. In decision block 132, the attendant has the discretion ofallowing or disallowing the transaction to continue by the input in thekeypad 80. If the attendant decides not to authorize the transaction, anegative input on keypad 80 is received by the data base file server 50,whereupon the transaction is canceled. This is shown in program flowblock 134. If the attendant provides an affirmative input on the keypad80, program flow proceeds to block 136 for carrying out the transaction.In this block, a printout receipt is obtained from the register 82 andis presented to the customer for signing. Program flow block 138 is thencarried out, where the account balance is zeroed, and no furthertransactions involving the wristband 10 can be carried out until afurther prepaid amount is submitted.

In the example noted above with respect to decision block 128, theaccount balance was $15.00 and the threshold was $17.00. If, forexample, the customer has purchased a meal for $20.00, then such amountexceeds the threshold, and program flow branches to block 140. Thetransaction amount that exceeds the present balance is displayed to thetransaction station attendant on the keypad 80. Additionally, theattendant is provided with a visual indication that supervisor levelapproval is required in order to continue the transaction. In situationssuch as noted in the example, it may be better to risk receiving paymentfor the excess balance, rather than refuse service to the customer andwaste the food unnecessarily. If such a situation exists, then thesupervisor of the attendant can provide approval by inputting a specialcode or key into the keypad 80. This is shown in program flow block 142.If no supervisor approval is input, but rather a negative response isprovided, program flow branches from decision block 142 to block 134where the transaction is canceled. On the other hand, if an affirmativeresponse is input by the supervisor, program flow branches to block 144where a printout receipt is provided to the customer for signing. Thereceipt signed in program flow blocks 136 and 14 is preferably of thetype suitable for use with credit cards to secure payment thereof.Advantageously, if prepayment for the wristband 10 was by way of creditcard, such information can be stored in the data base, in associationwith the account number. Again, the account balance is reduced to zero,as noted in program flow block 146. While the preferred programming ofthe computerized accounting system 12 accommodates the authorization oftransactions exceeding the account balance, other situations may dictatethat such an option is unnecessary or undesirable.

While not shown in program flow block form, the computerized accountingsystem 12 is also programmed to reconcile accounts at the end of eachbusiness day. If cash was utilized as a prepayment for one or morewristbands, then such wristbands can be surrendered at the end of theday, the account reconciled, and any excess returned to the customers.On the other hand, if prepayment was by way of credit card, thecustomers do not need to surrender the wristbands, and at the end of thebusiness day the computerized accounting system 12 automaticallyreconciles the account and issues a credit to the appropriate creditcard company for the difference between the prepaid amount and thebalance existing at the end of the day. Those skilled in the art mayfind that many other techniques may be utilized for reconciling thevarious accounts.

While the foregoing preferred embodiment of the invention has beendescribed in conjunction with an entertainment park, the invention mayfind a variety of applications in other areas, such as retailmerchandising and other gaming or entertainment businesses. Also, whilea wristband is utilized in connection with the preferred embodiment,other articles attached to a user can be employed with equaleffectiveness. For example, finger rings, belts, armbands, pendants,T-shirts, sunglasses and other articles can be used with identificationsthereon to associate the user with an account in a computerized database. According, it is to be understood that many changes in detail maybe made as a matter of engineering or programming choices, withoutdeparting from the spirit and scope of the invention, as defined by theappended claims.

What is claimed is:
 1. A transaction system, comprising: a wristbandhaving at least one bar code formed thereon, an attaching system thereonfor connecting the two ends of the wristband around the wrist of aperson, a computer accounting system including a data base for storingfinancial and associated data, an initialization station for issuingwristbands to users in exchange for prepayment amounts, and forassociating in the data base the bar codes and the prepayment amounts, atransaction station for scanning the bar codes of wristbands attached tousers in response to financial transactions, and forwarding to the database the bar code number scanned, and a transaction amount, a computerassociated with the data base for subtracting the transaction amountfrom the prepayment amount and providing a resulting balance.
 2. Thetransaction system of claim 1, wherein said wristband is constructed ofa waterproof material.
 3. A transaction system, comprising: plurality ofattachable articles, each article bearing a unique identification, saidarticles being usable for financial transactions to purchase goods orservices; said attachable articles being issued to a user in exchangefor a prepaid amount of money; a computerized accounting systemprogrammed to initialize an account associated with an attachablearticle identification only if said prepaid amount is credited to theaccount, said accounting system being programmed to associate saidprepaid amount with both said account and said attachable articleidentification; said computerized accounting system being programmed toaccept said attachable article identification and a monetary value of atransaction involving a purchase of goods or services, and programmed toarithmetically deduct the monetary value of the purchase from theaccount associated with the attachable article identification; and saidcomputerized accounting system being programmed to prevent a purchase ofgoods or services using said attachable article identification if anassociated account does not have a credit balance.